UAE. –(AETOS Wire)- Ajman Holding signed an agreement with China State Construction Engineering Corporation (CSCEC) Middle East L.L.C to develop and construct Mirkaaz, the recently launched shopping destination in Ajman, which is expected to have more than 10 million visitors in year one.

In the presence of HH Sheikh Abdulaziz bin Humaid Al Nuaimi, Chairman of Ajman Holding, an agreement was signed by Mr Yahya Al Jasmi, Managing Director of Ajman Holding and Yu Tao, President & CEO from China State Construction Engineering Corporation Middle East L.L.C (CSCEC ME) on January 8th 2018 in Ajman.

“It is indeed a pleasure to have CSCEC on board to develop the mall. While this is a major milestone in the life-cycle of the mall, we are confident that CSCEC will deliver the highest standards of quality for shopping and leisure to all UAE residents and visitors,” said Mr Yahya Al Jasmi, Managing Director of Ajman Holding.

CSCEC is the world's largest construction and real estate conglomerate and the biggest global contractor. It was ranked top 24th among Fortune Global 500 in 2017. CSCEC ME is an integrated part and one of the major overseas operational entities of CSCEC, whose shares are traded on the Shanghai Stock Exchange. In the Middle East Region, CSCEC ME is one of the region’s largest construction groups with offices in the Kingdom of Saudi Arabia, Kuwait, Bahrain and Qatar.

The company’s regional Headquarters are located in Dubai, UAE. The company provides a one-stop service for all elements of the construction process from planning, design, construction to operation and maintenance.

“It is an honour to be appointed as the contractor on this prestigious project. At CSCEC we are committed to delivering best-in-class services, and we share the ambitious aspirations of Ajman Holding to revolutionise the retail prospects in the emirate.” said Yu Tao, President & CEO of CSCEC ME.

The Construction Management of the project will be by Funtastic Engineering Consultancy (FEC) - a design and project management consultant incorporated in Abu Dhabi, UAE. FEC comprises of a group of highly experienced professionals who have consolidated their 18 years of expertise to provide best practice services for real estate development, design and project management.

Valued at AED 500 million, Mirkaaz will be the first mall in the UAE to feature a sprawling Atrium Roof of more than 7,900m2, constructed using ETFE Technology to provide natural UV light within the mall, allowing natural growth for plants, and scenic day/night sky views to all visitors thus creating a shopping experience on a whole new level.

The construction of the mall being built over one million square feet of land will start in January 2018 and when completed in the last quarter of 2019 the mall will host a hypermarket, sprawling over 15,000 square metres and also encompass more than 100 stores for people to shop to their hearts content.

“Mirkaaz is in line with the ambitious Ajman 2021 initiative, which will set unprecedented standards for Ajman’s economy. The construction of the mall will lead to more than 1100 blue-collared workers and 50 engineers on site, offering direct and indirect job opportunities,” added Mr Yahya Al Jasmi.

With the world's most prestigious retail and dining outlets to be showcased at the mall, the retail industry in Ajman will receive a boost in its GDP growth. Currently, the non-oil sectors recorded a growth of 3.1 per cent in 2017 and will grow to 3.7 per cent in 2018 - reflecting the strength and soundness of the UAE's development policies.

Mirkaaz is the latest development of Ajman Holding, a strategic organization with a diverse range of subsidiaries and associate companies in the UAE. Strategically located at the juncture of Sharjah and Ajman, and near both Sharjah International Airport and Dubai International Airport, the shopping destination will be easily accessible via Sheikh Mohammed Bin Zayed Road.